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TODAY'S NEWS

today’s news for Friday, August 17, 2018

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NEWS FROM NASFAA

Following recent reports focusing on predictive indicators that a borrower will default on his or her student loans, a new paper from the American Enterprise Institute (AEI) highlights what happens after students default and urges policymakers to simplify the options, and rethink the penalties, associated with defaulting to relieve both borrowers and taxpayers.

NASFAA UPDATES AND ANNOUNCEMENTS

Meet Our New Graduate/Professional Caucus Chair: Tony Sozzo

 Tony Sozzo

As Graduate/Professional Caucus Chair, Tony Sozzo, associate dean for student affairs and student financial planning at New York Medical College, will report to the Board of Directors on activities and issues related to graduate and professional student aid, lead the sector caucus at NASFAA's National Conference, and work with NASFAA staff to organize the annual Advocacy Pipeline "GP Hill Day." Tony, who previously served as the chair in 2012-13, will also work with the National Conference Program Task Force and NASFAA staff to develop a graduate and professional track, and present in NASFAA's annual Graduate and Professional Federal Update webinar, among other duties. NASFAA members are encouraged to reach out to Tony via email with any questions, concerns, or thoughts related to graduate and professional student aid issues.

2018 SOE CI

October 1 is a big deadline for consumer information reporting and disclosure requirements. Specifically, schools must report gainful employment data and publish security, fire safety, and athletics reports. Is your school ready? NASFAA's Consumer Information (CI) Assessment can identify issues with past disclosures or reports, and help you make improvements in the future. Request more information about the CI Assessment review today.

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U.S. DEPARTMENT OF EDUCATION

Federal Student Aid announced the posting of the updated 2018-2019 Common Origination and Disbursement (COD) Technical Reference.

Federal Student Aid announced that students and parents may now download the myStudentAid app from both the Apple App Store (iOS) and Google Play (Android).

FEDERAL REGISTER

The Department is requesting a revision of the current information collection related to Federal Family Education Loan (FFEL) Program regulations.

The Servicemembers Civil Relief Act (SCRA) provides that those on active duty military service are entitled to have an interest rate in excess of 6% be capped at 6% for the duration of their qualifying military service. 

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